A partnership between Copper and Elrond opens up great opportunities for individuals, entrepreneurs, VCs and institutional market players.
Elrond-based tokens can now be stored in Copper custody
According to the joint press release shared with U.Today by the two teams, digital assets custody provider Copper.co has entered into a long-term partnership with Elrond (EGLD), a new-gen blockchain platform.
With this partnership, Elrond's core native asset, EGLD, and all Elrond-based cryptocurrency tokens, will be integrated into Copper's custody solutions.
As such, all enthusiasts and entrepreneurs interested in working with Elrond and its assets can now access them via Copper's compliant, fast and resource-efficient custody module.
Beniamin Mincu, Elrond Network CEO, stresses that Copper's integration is a crucial milestone accomplished by his team on its road to adoption:
Best in class digital asset custody services are essential for making the rapidly expanding Elrond ecosystem accessible to more institutional actors, markets, and geographies. With Copper as a robust custodian for assets on the Elrond Network, a new growth chapter is ready to begin for the internet-scale blockchain.
Why Copper integration is crucial for Elrond
Alex Ryvkin, сhief product officer at Copper.co, is excited about the environmentally friendly approach to distributed ledger technologies advocated by Elrond:
By expanding our portfolio of integrated technologies to include the highly innovative and carbon-negative Elrond Network, we reaffirm our commitment towards our customers to enable safe, secure, and transparent access and control over the most innovative and sustainable digital assets.
Copper's custody solution is among the small cohort of adopters of MPC (Multi-Party Computation) technology. In total, Copper integrated 250 digital assets.
Additionally, Copper works with 40 major centralized exchanges and is trusted by more than 300 institutional asset managers.
EGLD is the backbone of Elrond Network's tokenomics: it is used for transaction fees, in staking, DeFi and NFT products associated with Elrond Network.